During the week ending August 16, metallurgical coke prices in the Chinese domestic market have mostly moved on a rising trend, while transaction activity in the overall market has been at low-to-medium levels. As of August 16, coke futures contract (1909) offers at Dalian Commodity Exchange closed at RMB 1,977.5/mt ($281/mt), up $6/mt compared to the previous week. Average coke prices in the local Chinese market are presented in the following table.
|
Product name |
Specification |
Place of origin |
Price(RMB/mt) |
Price ($/mt) |
Weekly change(RMB/mt) |
Weekly change($/mt) |
|
Coke |
Second grade |
Hancheng,Shaanxi |
1,900 |
269.9 |
+100 |
+14.2 |
|
Zibo ,Shandong |
2,000 |
284.1 |
0 |
0 |
||
|
Pingdingshan,Henan |
2,050 |
291.2 |
+100 |
+14.2 |
||
|
Tangshan |
2,050 |
291.2 |
+100 |
+14.2 |
||
|
Huaibei,Anhui |
2,030 |
288.4 |
0 |
0 |
||
|
Average |
2,006 |
284.9 |
+60 |
+8.5 |
During the given week, coking plants’ capacity utilization rates have decreased and inventory levels of coke have declined, providing a certain degree of support for coke prices. Steelmakers’ profitability has continued to be tight and so they will limit production to some extent, which will weaken the demand for coke. Following the recent increases in coke prices, steelmakers will be unwilling to accept further hikes in coke prices. It is thought that coke prices in the Chinese domestic market will move sideways in the coming week.